PNI Stock Summary and Trading Ideas (Pimco Ny Muni Income II C | NYSE:PNI)

The fund seeks to provide current income exempt from federal, New York State and New York City income tax. Investing primarily in New York municipal bonds, the fund seeks to provide current income exempt from federal, New York State and New York City income tax. The fund normally invests at least 90% of its net assets (and at least 80% of its net assets plus any borrowings for investment purposes) in municipal bonds that pay interest that is exempt from federal, New York State and New York City income tax. It also seeks to be “AMT-free” by avoiding bonds generating interest that may subject individuals to the alternative minimum tax. The portfolio manager also aims to preserve and enhance the value of the fund’s holdings relative to the municipal bond market, generally, using proprietary analytical models that test and evaluate the sensitivity of those holdings to changes in interest rates and yield relationships.

Pimco Ny Muni Income II C trades on the NYSE stock market under the symbol PNI.

As of April 23, 2024, PNI stock price climbed to $7.15 with 21,132 million shares trading.

PNI has a beta of 0.70, meaning it tends to be less sensitive to market movements. PNI has a correlation of 0.30 to the broad based SPY ETF.

PNI has a market cap of $80.15 million. This is considered a Micro Cap stock.

In the last 3 years, PNI stock traded as high as $12.19 and as low as $6.03.

PNI has underperformed the market in the last year with a return of -1.7%, while the SPY ETF gained +24.3%. In the last 3 month period, PNI fell short of the market, returning -1.0%, while SPY returned +4.9%. However, in the most recent 2 weeks PNI has outperformed the stock market by returning -0.6%, while SPY returned -2.5%.

PNI support price is $7.10 and resistance is $7.18 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that PNI stock will trade within this expected range on the day.